The US administration on April 23 said there is an opportunity for a “fair and big deal” between the United States and China on trade.
US Treasury Secretary Scott Bessent said they had been in talks with the Chinese side on the deal while saying that China needs rebalancing and changing its economic model of exporting its way out of its economic troubles.
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US Treasury Secretary Scott Bessent said they had been in talks with the Chinese side on the deal while saying that China needs rebalancing and changing its economic model of exporting its way out of its economic troubles.
Read more at https://tinyurl.com/23scy9ae
WATCH MORE: https://thestartv.com/c/news
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NewsTranscript
00:00Mr. Secretary, thank you for joining us here today.
00:02I thank all of you for coming here today.
00:23What I have said previously, there is an opportunity for a big deal here.
00:30That the U.S. is looking to rebalance two more manufacturing.
00:36The identity of that would be less consumption.
00:39If China is serious on less dependence on export-led manufacturing growth and a rebalancing toward a domestic economy, I think they use the term dual circulation.
00:54Well, right now it's really singular circulation.
00:59And if they want to rebalance, let's do it together.
01:03This is an incredible opportunity.
01:06I think if Bridgewater founder Ray Dalio were to write something, he could call it a beautiful rebalancing.
01:14As President Trump says, it's common sense that you can't have the second largest economy in the world.
01:21And as I said in my speech, I applaud their rapid growth, but you don't get both.
01:29I have a teenager who sometimes wants to be treated like a child, sometimes wants to be treated like an adult.
01:37And I got one of those too.
01:42It's an adult economy.
01:44With enforcing the laws on the books with respect to foreign gifts to American universities.
01:50Okay.
01:51You want to bring the tariffs on China down soon.
01:56How soon do you want to bring the tariffs on China?
02:01Well, that depends on them.
02:02We have a situation where we have a very, very great place.
02:07It's called the United States of America.
02:09And it's been ripped off for years and years.
02:12These people know it.
02:13We talked about it before you came in.
02:16We've been ripped off by every country in the world, practically.
02:19And friend and foe.
02:20So, and we will, we're not doing that anymore.
02:24So, what's happened is we've, Howard, how many countries have we spoken to already?
02:29Ninety.
02:30Ninety.
02:32And they all want to make deals.
02:36We're going to make deals.
02:37But they're going to be fair deals.
02:38They're not going to be ripoff deals.
02:39And in the end, I think what's going to happen is we're going to have great deals.
02:43And by the way, if we don't have a deal with a company or a country, we're going to set the tariff.
02:48We just set the tariff.
02:49It's something that we think that will happen, I'd say, over the next couple of weeks.
02:53Wouldn't you say?
02:54I think so.
02:54Over the next two, three weeks.
02:56We'll be setting the number.
02:58For China.
02:59And we're going to pick, could be for China too.
03:01Could be for China.
03:02We're dealing with almost all of them.
03:04Too many to fully deal with, but we're going to be fair to them.
03:08But we're dealing with a lot of countries right now.
03:10And could be with China, but maybe we'll make a special, you know, a deal.
03:19And we're going to rule with China.
03:25And do we have a great deal?
03:30Okay.
03:31We're dealing with China.
03:33Good to be with China.
03:33Good to be with China.
03:34Good to be with China.
03:36Good to be with China.
03:37Great to be with China.
03:39And China.
03:40Good to be with China.